https://www.taxtmi.com/caselaws?id=180895 A lump sum received under a commercial agreement was examined to determine whether it was trading income of an existing business or capital in nature. The analysis turned on whether the company was trading in know-how and confidential technical information, or merely realising a capital asset; on the stated facts, the receipt was not established as arising from the existing trade and could not be brought into that assessment. The attempt to apportion the sum between capital and income also failed because the case had been argued throughout on an all-or-nothing basis, with no findings below to support a split analysis. The original position was therefore restored. en-us Wed, 30 Oct 1957 00:00:00 +0530 Mon, 04 Apr 2016 12:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180895 A lump sum received under a commercial agreement was examined to determine whether it was trading income of an existing business or capital in nature. The analysis turned on whether the company was trading in know-how and confidential technical information, or merely realising a capital asset; on the stated facts, the receipt was not established as arising from the existing trade and could not be brought into that assessment. The attempt to apportion the sum between capital and income also failed because the case had been argued throughout on an all-or-nothing basis, with no findings below to support a split analysis. The original position was therefore restored. Case-Laws Income Tax Wed, 30 Oct 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180895